alt Hacker NewsJapan doesn't have a housing crisis. I'm in a great location in Tokyo, the rent is under $750/month, and it's been the same for the decade+ I've been in this specific place.
If there's a problem, it's too many empty homes in aging rural areas. Cities are doing just fine, even with a growing population in Tokyo.
It didn't. But it's entering one now.
New apartment prices in Tokyo are double what they were a few years ago. [1] The reason is foreign investors buying up loads of properties and sitting on them or turning them into AirBNBs. Locals can't afford them because wages aren't increasing. The concept of buying a property to resell it also isn't a thing amongst locals, so it's clueless rich people and corporations buying up properties and thinking they can flip them, which won't be happening any time soon.
But after a few years of squeezing, locals may have no choice but to pay their entire paycheck to foreign investors. Though thankfully the government is planning to take steps to potentially outlaw foreign buyers. If we're lucky, and some parties get their way, they might just strip the properties from them. If you're not living here, you have no business owning dozens of homes.
[1] https://www.nikkei.com/article/DGXZQOUC183D80Y4A110C2000000/